The Asia-Pacific Renewable Energy (RE) inverters market is entering the
mature stage, especially in developed countries such as Australia and
Japan. However, growth potential still exists in Southeast Asia, as RE
adoption growth is still promising. The market registered a revenue that
was close to $2.5 billion and is forecasted to expand by less than 1%
from 2016 to 2021. The low Compound Annual Growth Rate (CAGR) is
attributed to the maturity of the largest markets such as Australia,
Japan, and South Korea.

In this study, the use of inverters usually reflects the development of
RE. In Australia, solar and wind energy development are equally
significant. This trend is expected to continue for the next 5 years, in
spite of lowering of Feed-in-tariffs (FiTs) in the country. Southeast
Asia's RE inverter market is expected to account for double digit growth
from 2016 to 2021, whereby the off-grid RE inverter market will find
opportunities in rural electrification projects in this region. The top
5 countries with an attractive wind energy inverter market are Japan,
Australia, South Korea, the Philippines, and Thailand. However, in the
base year, this market was dull but is expected to pick up during the
forecast period due to projects from these nations.